Re: oil refining conspiracy?

[Jim Devine <jdevine03@xxxxxxxxx>]

OTOH, maybe stress on supply causes accidents?  

the CA electricity "deregulation" seemed to deliberately create the
incentive to manipulate supply a la Enron. Is the current oil market
that way?

On 8/9/05, michael perelman <michael@xxxxxxxxxxxxxxxxx> wrote:
> This sounds like the California electricity scam?  Could it be true?
> 
> Speculating without facts:
> 
> More Outages Hit U.S. Refineries
> 
> Recent Incidents Heighten
> Concerns About Capacity;
> Oil Nears $64 a Barrel
> 
> Fresh upsets at U.S. refineries over the weekend extended an unusual
> spate of outages that has raised concerns about fuel supplies and
> contributed to a rise in oil prices on the New York futures market to
> nearly $64 a barrel.
> 
> The rash of incidents over the past three weeks involves major
> processing units and four fires at a time when refiners are trying to
> run flat out to meet demand. The outages have put added stress on
> already-constrained U.S. fuel-production capacity.
-- 
Jim Devine
"Economics is extremely useful as a form of employment for
economists." -- John Kenneth Galbraith